Texas Legislature

There's a fight looming at the Texas Legislature: how to balance the state budget for the next two years.

The Texas House's version of the budget pulls $2.5 billion from the state's savings account, also known as the Economic Stabilization Fund, or Rainy Day, Fund.  Right now, there's more than $10 billion in that reserve.

The Senate, though, says it doesn't want to pull out any of that money.

But before that debate heats up, we got to wondering how all that money got there in the first place.

From Texas Standard:

Tuesday was a late night for political junkies, and residents of Georgia's 6th Congressional District, who were voting to decide on a new member of Congress. CNN called the race just after midnight. There will be a June runoff between Democrat Jon Ossoff – who won just under 50 percent of the vote – and Republican Karen Handel. The special election had pitted Ossoff against 11 Republicans.

Texas Public Radio/Ryan E. Poppe

The state's 85th Legislative Session kicked off Tuesday, Jan. 10, and Texans are buzzing about the hundreds of pieces of legislation to be considered by the House and Senate over the next 140 days.

From Texas Standard:

Today marks the start of the 85th Texas legislative session. Lawmakers will have 140 days to pass bills and set the budget for the next two years. But the projected amount they’ll have to work with is 2.7 percent less than what they've been expecting.

Hegar gives lawmakers dour revenue estimate for 2017 session

Jan 9, 2017
Bob Daemmrich for The Texas Tribune

 

Editor's note: This story has been updated throughout.

Facing sluggish economic forecasts amid low oil prices along with billions in tax revenue already dedicated to the state highway fund, Comptroller Glenn Hegar announced Monday that lawmakers will have $104.87 billion in state funds at their disposal in crafting the next two-year budget, a 2.7 percent decrease from his estimate ahead of the legislative session two years ago.

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